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Palo Alto Networks
CEO Nikesh Arora addressed the recent downdraft in software stocks, telling analysts in an earnings call that artificial intelligence won’t replace cybersecurity “anytime soon.”
“I’m still confused why the market is treating AI as a threat to at least cybersecurity,” he said Tuesday. “I can’t speak for all of software, but one thing we’re definitely seeing is that customers have figured out that they need to drive more consistency in their security stack to be able to respond faster using AI.”
Shares sank 8% Wednesday following the cybersecurity company’s fiscal second-quarter results, which topped Wall Street estimates. However, third-quarter earnings guidance fell short of expectations.
